Frozen Food Market Size, Growth & Report, 2020-2027

 

The Frozen Food Market is expected to reach at USD 346 billion by 2027, growing at a CAGR of 5.3% over the forecast period (2020-2027).

The factors driving the growth of Frozen Food Market includes growing demand for convenience food products, expansion of the cold chain industry, rise in the number of quick service restaurants and hotels, busy lifestyles and increase in the working population around the world. Moreover, availability of wide range of frozen food items at online platforms and supermarkets, rise in the launch of innovative flavors, growing popularity of ready-to-eat food products and rapid urbanization, are some of the additional factors supplementing the Frozen Food Market size. In addition, the increasing investments by leading players on research and development, strategic partnerships between key companies, rising disposable incomes and improvements in the living standards, are further propelling the Frozen Food Market Growth.

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However, growth of the Frozen Food Market attributed to growing preference for fresh and natural food products.

The leading players operating in the market are Kellogg Company, General Mills, Inc., Conagra Brands, Inc., Grupo Bimbo S.A.B. de C.V., Kraft Heinz Company, Nestle SA, McCain Foods Limited, Associated British Foods plc, Unilever, and Ajinomoto, among others.

Based on Consumption, the Food Service segment is predicted to capture the largest market share during the forecast period

Rise in the number of pubs, hotels and quick service restaurants serving frozen food items, is pushing growth of the segment.

Based on Distribution Channel, the Online segment is projected to grow at a remarkable CAGR over the forecast period

Online stores offer wide range of frozen food items with attractive discount options, provides free home delivery options and are open 24*7 along with rising trend of online shopping worldwide, are propelling Frozen Food Market share.

Based on Region, the European region is anticipated to hold the highest market share during the forecast period

As per the Frozen Food Market Research, hectic lifestyles, growing demand for ready-to-eat food items, rise in the number of hotels and quick service restaurants, rapid urbanization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in Europe.

Key Development

  • In 2020, Nestle SA partnered with Tajin International Corp. to launch the new Tajin’s first frozen snack known as “Outshine Mango with Tajin” in the US. Through this partnership, Tajin plans to create a family-friendly brand image of their organization.

Market Segmentation

Segmentation by Product

  • Fruits & Vegetables
    • Frozen Fruits
    • Frozen Vegetables
      • Frozen Potato
      • Others
    • Dairy Products
    • Bakery Products
      • Bread & Pizza Crusts
      • Others
    • Meat & Sea Foods
    • Convenience Food & Ready Meals
    • Others

Segmentation by Type

  • Raw Material
  • Half Cooked
  • Ready-to-Eat

Segmentation by Consumption

  • Food Service
  • Retail

Segmentation by Distribution Channel

  • Offline
  • Online

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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